Satsuma Technology shareholders vote to liquidate Bitcoin and delist

The July 20 vote exposed a deep rift within the company’s leadership. While four of the six directors argued that liquidation would destroy a unique, purpose-built asset, the majority of shareholders opted to reclaim value rather than endure a stock price that had plummeted over 99% from its 2025 peak. Major investors, including Pantera Capital, led the push for the exit after the company’s market valuation fell significantly below the worth of its underlying Bitcoin holdings.

Satsuma currently holds 668 BTC, which the company estimates could yield between £27.7 million and £30.9 million for investors after accounting for transaction costs and a £2 million working capital reserve. The distribution process now moves to the UK High Court, with a final hearing set for September 8. If approved, the London Stock Exchange listing will be canceled on September 14, with remaining capital payouts expected by September 28. Following the wind-down, the company may transition into a cash shell, though no specific reverse takeover plans have been disclosed.